Sat.May 13, 2023 - Fri.May 19, 2023

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Why ChatGPT Is No Threat To Real Advisors

Nerd's Eye View

The financial advisory industry has faced many purported technological ‘threats’ over the past several decades. From the introduction of computers to the rise of the internet to the emergence of ‘robo-advisors’, there has been no shortage of innovations that would allegedly reduce the need for consumers to work with (human) financial advisors.

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120,000

The Reformed Broker

Just wanted to take a moment to recognize the incredible work my media and research teams have been doing to propel The Compound channel past 120,000 subscribers this month. And that 120k is just a fragment of the audience because almost everything we do on video is also on the audio podcast channels too. For those who are new to what we’re doing at the Compound YouTube channel each week, below is the schedule of w.

Media 361
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Inflation Expectations Are Useless

The Big Picture

Jerome Powell and the Federal Reserve spend a lot of time worrying about Inflation Expectations. They shouldn’t. Sentiment surveys in general are mostly useless (except at the extremes). They aren’t merely lagging, backward-looking indicators, but instead, tell you what the public experienced 3- 6 months ago. Beyond short-term extrapolation, they have little to no ability to provide insight into intermediate-term (6-12 months) inflation.

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Thursday links: the new suburbanites

Abnormal Returns

Finance Zero-day options are changing how the stock market operates. (finance.yahoo.com) Managing cash is no longer an afterthought. (institutionalinvestor.com) RIP, once and for all, Libor. (economist.com) Funds Jon Hale looks at the evolution of sustainable investing over the past couple decades. (morningstar.com) ETFs are seeing increased adoption in Europe.

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Live Demo: How to Achieve Reconciliation Zen

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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Investing For Nonimmigrant Visa Holders: Understanding Visa Types, Investment Challenges, And Tax Implications

Nerd's Eye View

Amid a tight job market and low unemployment rates, a significant amount of the U.S. ‘talent gap’ is filled by foreign-born workers on employment visas like the H-1B. These visas allow foreign workers to live and work in the country temporarily while they are employed – although in practice, this can mean that individuals can spend years or decades (or even their entire career) working in the U.S. on a ‘temporary’ visa.

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More Trending

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10 Bad Takes On This Market

The Big Picture

Let’s see if I can find something to counter and/or undercut each of these 10 items listed in this morning’s tweet above: 1. Only 5 stocks driving markets?! Then why are Equal-weighted indices doing so well? Equal-weighted Nasdaq100 up 17% since the June lows for the market because “it’s only 5 stocks”? How bad at math do you need to be to think that it’s only 5 stocks driving this market?

Marketing 281
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Personal finance links: a tantalizing offer

Abnormal Returns

Podcasts Peter Lazaroff on the problem with bond index funds. (peterlazaroff.com) Morgan Housel talks about some impactful ideas, succinctly stated. (open.spotify.com) Housing People looking to buy a house right now have three options. (awealthofcommonsense.com) Moving comes with a whole host of unexpected costs. (blairbellecurve.com) What does it really cost to own a home?

Insurance 213
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#FA Success Ep 333: Scaling A Small-Business-Owner Boutique To A $31M Retainer-Based Valuation, With Jim Dew

Nerd's Eye View

Welcome back to the 333rd episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Jim Dew. Jim is the Co-Founder and CEO of Dew Wealth Management, an independent RIA based in Scottsdale, AZ, that provides virtual-family-office-style financial planning on a monthly retainer basis for 150 small-business owner entrepreneurs. What's unique about Jim, though, is how he has scaled his retainer-based boutique firm to more than $7 million in revenue, a $31 million enterprise va

Valuation 197
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Come meet us in Austin, Texas this June!

The Reformed Broker

RWM is coming to Austin, TX June 12th-14th @Downtown with more detailsEmail us at info@ritholtzwealth.com subject line “Austin” to reserve a meeting slot! pic.twitter.com/9iSdG4HFf3 — Ritholtz Wealth (@RitholtzWealth) May 19, 2023 Why did we open an office in Austin, Texas? Is it because the city is expected to add another 1.5 million residents by 2040, giving it a population of 4 million?

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.

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10 Weekend Reads

The Big Picture

The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • He wrote a book on a rare subject. Then a ChatGPT replica appeared on Amazon. From recipes to product reviews to how-to books, artificial intelligence text generators are quietly authoring more and more of the internet. ( Washington Post ) • The Crypto Winter Cost People More Than Their Money : Some acolytes lost faith, others blamed devils—and some went even harder.

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Saturday links: more potent pot

Abnormal Returns

EVs Electric car sales are outpacing prior estimates. (hannahritchie.substack.com) Norway is farthest along when it comes to EVs but still struggles with charging infrastructure. (nytimes.com) Toyota ($TM) is hedging its bets when it comes to EVs. (wsj.com) Energy NextEra Energy Resources ($NEE) is betting big on 'green hydrogen' production. (wsj.com) Why more public entities will begin to start deploying renewables.

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Weekend Reading For Financial Planners (May 20-21)

Nerd's Eye View

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news of a recent survey indicating that investors overwhelmingly believe that Artificial Intelligence (AI) will help financial advisors better serve their clients and would like to work with an advisor who leverages AI tools.

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This Week on TRB

The Reformed Broker

And if you haven’t subscribed yet, don’t wait. Check it out below or wherever fine podcasts are played. . The post This Week on TRB appeared first on The Reformed Broker.

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Banking on Loyalty: Holistic Financial Advice for Unparalleled Business Growth

Speaker: Joe Buhrmann, MBA, CFP®, CLU®, ChFC® Senior Financial Planning Practice Management Consultant eMoney Advisor

During an era of evolving consumer preferences, the banking sector is undergoing a profound shift. As customers continue to broaden their perspectives, banking professionals must support their customers' financial wellness by providing holistic financial advice that aligns with individual goals and circumstances. Without adapting, financial institutions will find that loyalty may crumble amid uncertainty.

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10 Tuesday AM Reads

The Big Picture

My Two-for-Tuesday morning train WFH reads: • Miami’s Love Affair With Crypto Is Souring as Bitcoin Faithful Flock to the City : On the eve of the annual bitcoin conference, the city and its mayor have mostly moved on from crypto. ( Wall Street Journal ) but see Crypto’s Most Influential Companies Often Follow Their Own Rules — Even After FTX’s Collapse : A review of practices at 60 of the sector’s most influential companies found many lack basic guardrails. ( Bloomberg ) • The audacious plan to

Economy 258
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Monday links: historical market data

Abnormal Returns

Energy Gasoline prices are down some 30% from their peak (axios.com) European natural gas prices are below pre-war levels. (qz.com) Strategy A magazine cover gone wrong, the case of Cisco Systems ($CSCO). (ritholtz.com) Models are always a starting point, not an end in themselves. (awealthofcommonsense.com) Companies How Sea Ltd. turn things around by cutting costs.

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Kitces & Carl Ep 112: When You No Longer Want To Be A Manager And Have To Let An Associate Advisor Go

Nerd's Eye View

As a solo advisory firm owner grows their practice, they may reach capacity constraints that prompt them to hire an additional employee. While this can be a logical step in scaling their firm, some advisory firm owners may not anticipate the managerial challenges that come with hiring additional staff. And even though some firm owners may have originally thought they were ready to expand and take on an employee, they may later determine that they actually prefer operating on their own as a solo

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Where is the Crash?

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Morgan Housel, Chris Davis, and Downtown Josh Brown discuss the big wave of AI coming, the most important chart in the stock market, SVB insiders facing scrutiny, the worst startup investment ever, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!

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Navigating Financial Storms: Strategies for Building Resilient Balance Sheets

Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC

In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.

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MiB: Howard Lindzon, Social Leverage

The Big Picture

 This week, we speak with Howard Lindzon , who is co-founder and managing partner of the early-stage seed investment fund Social Leverage. Lindzon also cofounded the social network Stocktwits, which pioneered the “cashtag” (e.g., $AAPL) and today has over 6 million monthly unique visitors; in addition, he has written several books and hosts the podcast “ Panic With Friends.” He explains his first investment into the company behind the Gripp, a stress squeeze ball that ev

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Tuesday links: separating signal and noise

Abnormal Returns

Crypto 2022's crypto blowups happened really quickly as institutions rushed through the door. (chicagofed.org) Michael Lewis' book on SBF, “Going Infinite: The Rise and Fall of a New Tycoon” is coming in October. (nytimes.com) Companies Why is Apple ($AAPL) is pushing forward with its mixed reality headset? (washingtonpost.com) What exactly is IBM ($IBM) these days?

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May 19th COVID Update: New Pandemic Lows for Deaths and Hospitalizations

Calculated Risk

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Due to changes at the CDC, weekly cases are no longer updated. After the first few weeks, the pandemic low for weekly deaths had been the week of July 7, 2021, at 1,690 deaths (until recently). For COVID hospitalizations, the previous low was 9,821 (until three weeks ago).

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Clips From Today’s Halftime Report

The Reformed Broker

Bullish call on GE Healthcare from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.

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Putting the ‘Tech’ in Spend Management Techniques

Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker

If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!

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Barron’s: How Advisors Can Create Killer Content

The Big Picture

At Barron’s Independent Advisor Conference held in Dallas in March, I got to sit down with Greg Bartalos to discuss the idea of how advisors can use content as a way to enhance their business. The tagline is “ Want to create content, but not sure how to get started? The chairman and CIO of Ritholtz Wealth Management tells all ” but we really spend most of the time explaining why it doesn’t quite work the way people expect, and why it a lot of work, and far less lucrative

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Top clicks this week on Abnormal Returns

Abnormal Returns

Also on the site Everybody is a creative, whether they acknowledge it or not. (abnormalreturns.com) FutureProof announced the first 50 speakers including the musical acts. (businesswire.com) Top clicks this week What's the best asset to hold during a recession? (morningstar.com) The 60/40 portfolio is flawed, but you need an alternative. (morningstar.com) The case for international diversification is still solid.

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What’s the Best Long-Term Investment?

A Wealth of Common Sense

Each year Gallup performs a survey that asks a group of Americans what the best long-term investment is among the following options: Stocks Bonds Cash Gold Real estate These are the latest results: Real estate has been at the top of the charts for over a decade at this point but it saw a big drop from 2022 to 2023. Following the 2022 bear market stocks fell to third place behind gold.

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NY Fed Q1 Report: Household Debt Increases, Mortgage Loan Growth Slows

Calculated Risk

From the NY Fed: Total Household Debt Reaches $17.05 trillion in Q1 2023; Mortgage Loan Growth Slows The Federal Reserve Bank of New York's Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The Report shows an increase in total household debt in the first quarter of 2023, increasing by $148 billion (0.9%) to $17.05 trillion.

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Transforming Lending: Understanding the Power of Digital Platforms

Digital platforms can provide you with plenty of solutions, yet many are still intimidated by them. It's time to end that worry and embrace what could make a major difference for your bank. Understanding how they work and how to best utilize them for your banks is key toward success. In this article, Biz2X breaks down all things digital platforms, including the many advantages of embracing them.

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10 Thursday AM Reads

The Big Picture

My morning train reads: • Here’s How Much Wealth You Need to Join the Richest 1% Globally : It takes $12.4 million to join Monaco’s wealthiest group The US, by comparison, requires $5.1 million to make the cut. ( Bloomberg ) • Brew Another Pot, Robinhood’s 24-Hour Stock Trading Is Here : As the company launches a new nighttime buying and selling feature, one Reddit poster asks: “Why would anyone want this?

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Episode #481: Sarah Stanley Fallaw – The Psychology of the Millionaire Next Door

Meb Faber Research

Episode #481: Sarah Stanley Fallaw – The Psychology of the Millionaire Next Door Guest: Sarah Stanley Fallaw, Ph.D., is the author of The Next Millionaire Next Door and the founder and President of DataPoints LLC, a company that provides technologically-enabled financial psychology tools to enhance wealth-building. In her role at DataPoints and her research, […] The post Episode #481: Sarah Stanley Fallaw – The Psychology of the Millionaire Next Door appeared first on Meb Fabe

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Empire State Manufacturing Survey: Activity Fell Sharply in May

Advisor Perspectives

This morning we got the latest Empire State Manufacturing Survey. The diffusion index for General Business Conditions fell 42.6 points from last month to -31.8, its biggest monthly decrease in 3 years. This morning's reading was well below the Investing.com forecast of -3.7 and puts the index back into contraction territory for the fifth time in six months.